Investors should always be on the lookout for insights that could give them an edge in the stock market, and one potential source of such information is insider buying activity. When company insiders, such as executives or board members, buy shares of a company’s stock, it can be seen as a vote of confidence in the company’s prospects. Publicly available insider buying information can provide valuable clues about which stocks may be worth considering for investment.
Here are three stocks recently purchased by C-level insiders –
RXO, Inc. – SYM: RXO
Recent Price: $23.04
Insider Action: 4 insiders buy $6.7 mil in shares
Description: RXO, Inc. provides full truckload freight transportation brokering services. The company also offers brokered services for managed transportation, last mile, and freight forwarding. RXO, Inc. was founded in 2022 and is based in Charlotte, North Carolina.
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CARGO Therapeutics, Inc. – SYM: CRGX
Recent Price: $16.28
Insider Action: 3 insiders buy $39 mil in shares
Description: CARGO Therapeutics, Inc., a clinical-stage biotechnology company, develops chimeric antigen receptor (CAR) T-cell therapies for cancer patients. The company’s lead program is CRG-022, an autologous CD22 CAR T-cell product candidate designed to address resistance mechanisms by targeting CD22, an alternate tumor antigen that is expressed in B-cell malignancies. It also develops CRG-023, a tri-specific CAR T product candidate that targets tumor cells with three B-cell antigen targets. The company was formerly known as Syncopation Life Sciences, Inc. and changed its name to CARGO Therapeutics, Inc. in September 2022. CARGO Therapeutics, Inc. was incorporated in 2019 and is headquartered in San Mateo, California.
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RumbleON, Inc. – SYM: RMBL
Recent Price: $6.66
Insider Action: 3 insiders buy $18 mil in shares
Description: RumbleON, Inc. operates a technology-based omnichannel platform in North America. It operates through three segments: Powersports, Automotive, and Vehicle Logistics. The Powersports segment distributes motorcycles and other powersports vehicles. The Automotive segment distributes cars and trucks. The Vehicle Logistics segment provides nationwide transportation brokerage services between dealerships and auctions. Its platform offers ability to buy, sell, trade, and finance new and pre-owned vehicles online or in store for dealers and consumers. The company was formerly known as Smart Server, Inc. and changed its name to RumbleON, Inc. in February 2017. RumbleON, Inc. was incorporated in 2013 and is based in Irving, Texas.